1. Record purchase of additional investment in affiliates.

2. Record dividend income.

3. Record adjusting entry to account the effects of fair value at year end.

4. Record adjusting entry to account for net income.

Required: Complete the following journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field a. Purchased additional investments in affiliated companies for cash. b. Received cash dividends on the investments. c. At year-end, the investments in affiliates account had a fair value of $63,500; the affiliate also reported $5,940 in net income for the year. view transaction list view general journal Required Information Journal Entry Worksheet 1 2 3 IThe following information applies to the questions displayed below.] Record purchase of additional investment in affiliates. Below are selected Taccounts for William Company Debit Credit Transaction General Journal Investments in Affiliates 83,628 Purchase 2,855 10,112 Share of affiliate net income Share of affiliate divide 12/31 89,340 "Enter debits before credits done clearent record entry Equity in Affiliate Earnings Share of affiliate net incc 2,969